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Industry Related (Banking & Finance)

The financial sector is is Singapore's single most important economic sector, accounting for nearly 40% of the country's GDP, the sector encompasses over 500 financial institutions, ranging from banks to insurance companies, and finally to the stock brokerages, things used to be pretty cosy for these multi-million dollar organisations, particularly for local institutions, but much has changed in recent years. And the reason for the changes can be summed up in one word-liberalization. As far as the governement is concerned, there was no other choice, globalization and technological advances have allowed international capital to flow wherever there are greater efficiencies and better returns. Singapore's financial sector had to be opened up to fiercer competition, in order to allow market forces create those efficiencies. Singapore's stock market was not spared from these reforms. The reforms to the stock market had 3 key objectives: 1)to create open access, 2)to liberize brokerages, and 3)to broaden the business scope of stock brokerages.

You've heard about the long hours, the multi million dollar deals and the 21 year old who makes $200,000 a year fresh out of school. You want to be part of the jet-setting, prada suit wearing investment banker. But is life really as rosy from the inside? What is investment banking really about?

For a bank, grooming next-generation managers is serious business. Hundreds and thousands may be invested every year to not only recruit the best talents but to also hot-house them to take on senior positions in corporate, consumer, relationship banking and so on. Here'e a quick peek into prestigious management associate programmes run by Citigroup Singapore, HSBC bank and Standard Chartered bank.

Today's definition of private banking is much more that what it has ever been. Managing someone else's immense wealth isn't exactly a cushy job, and the money and prestige associated with it always seem to be one more twenty-hour workday away. Neverthless, almost every finance professional harbours dreams of becoming a private banker. There is a huge demand in Singapore and Asia for these hard-as-nails financial advisors and although the stress is high, so are the rewards.

Singapore is a thriving financial centre of international repute, servign its domestic economy, the wider asia pacific region, and the world. The financial services accounted for 11.6% of Singapore's gross domestic product in 2003, while employing just 5% of the country's population, making it the highest value-added service industry in Singapore.

From 13 to 20 September, Singapore will play host to the Annual Meetings of the International Monetary Fund and World Bank Group. The event has been dubbed Singapore 2006, and it will impact on our country in many different ways.

Are you considering studying at an overseas university? Go for it! Research has shown that studying abroad provides students with increased self-confidence, a lasting impact on their world view, and enhanced interest in academic study. And that’s before we’ve even considered the friendships you’ll forge, the lessons you’ll learn and the stories to share in years to come.

Hers is a success story that is astounding to learn about, even among her peers in the financial planning industry. Merry Riana took charge of her life and career to achieve her dreams, and now hopes to inspire other young people to do the same.